The Fund for Export-Development in Africa – FEDA – was established as a subsidiary of the African Export-Import Bank (“the Bank”) in February 2019. With headquarters in Kigali, Rwanda, FEDA is tasked with implementing the Bank’s equity investment programme by providing seed capital to export-focused companies within a wide range of sectors. FEDA was established by the Bank to facilitate foreign direct investment flows into Africa’s trade and export sectors and to fill the equity funding gap that amounts to $110 billion per annum in exports related sectors.
Cairo, 06 September 2021: – African Export-Import Bank (Afreximbank) has announced a minority investment by the Fund for Export Development in Africa (FEDA) into Liquid Intelligent Technologies (Liquid), a pan-African telecommunications technology group. This is the first investment made by FEDA, a development impact-oriented subsidiary of Afreximbank, which provides equity and quasi-equity funding to companies developing trade and value-added export of goods and services in Africa.
This investment enables FEDA to become a stakeholder in Africa’s fast-growing technology infrastructure landscape, in which Liquid is a leading player. With fiber optic network currently stretching over 100,000 km across Sub-Saharan Africa, one of the world’s fastest growing data market regions, Liquid has direct access to international submarine cable infrastructure as well as significant investment in data centres across the continent. Liquid is the only operator in Sub-Saharan Africa with a multi-country fiber network of such geographic breadth.
Liquid’s infrastructure therefore facilitates intra- and extra-African connectivity thereby reducing the cost of communication and trade, in line with the mandate of FEDA and Afreximbank.
Professor Benedict Oramah, President of Afreximbank, noted that:
“FEDA’s investment in Liquid Intelligent Technologies is a landmark deal as the fund’s first investment. The transaction is a demonstration of FEDA’s ability to leverage African Export-Import Bank’s network and invest in opportunities that will drive the structural transformation of trade on the continent. Liquid provides vital digital infrastructure that supports Africa’s connectivity and trade with the rest of the world. This investment will pave the way for more investments by FEDA and commences the process of building an institutional track record of successfully investing and delivering development impact on the continent.”
The mission of FEDA is to provide equity capital with a focus on delivering development impact in diverse sectors in Africa which are critical to driving intra-African trade and value-added export development, while providing a financial return to investors.
At Afreximbank, our shared purpose is “to stimulate a consistent expansion and diversification of African trade so as to rapidly increase Africa’s share of global trade; and in doing so, to operate as a first class, profit-oriented, socially responsible financial institution and a center of excellence in African trade matters” and our shared vision is to consolidate the Bank’s position as “The Trade Finance Bank For Africa”.
Achieving our vision is dependent on our ability to successfully execute effectively our strategy around four strategic pillars, which are “Promote Intra-African Trade,” “Facilitate Industrialization and Export Development,” “Strengthen Trade Finance Leadership” and “Improve Financial Performance and Soundness”. Our success will be defined by the satisfaction of our stakeholders through increased trade finance and improved facilitation of Intra-African trade and value-added exports and improvement in our financial performance, which itself positions us better to achieve our developmental objectives. Our financial performance is enhanced through strengthened financial soundness and improved business development activities, underpinned by sound risk management practices and adequate capitalization.
Through improvements in business development, we are able to leverage diverse channels to provide solutions to our clients and other stakeholders, while improvements in our internal capacities in terms of people, systems and organizational culture are the bedrocks that uphold the increased efficiency of our internal processes. As a self-governing institution, we emphasize strong governance structures as key components of enterprise risk management and promote an organizational culture based on our core values of Uncompromising Integrity, Teamwork, Trust and Respect for the Individual, Innovation, Excellence & Flexibility, a Passion for Learning and Drive, Professionalism and Responsiveness, a Commitment to Africa and Supporting African Emancipation and Empowerment.
Our Vision:
To be the Trade Finance Bank for Africa.
Mission Statement:
To stimulate a consistent expansion, diversification and development of African trade, while operating as a first class, profit-oriented, socially responsible financial institution and a center of excellence in African trade matters.
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